NEW DELHI: The government has halved the windfall tax on the export of diesel and scrapped the levy on jet fuel (ATF) shipments but raised the tax on domestically produced crude oil.
Category: Oil & Gas
ATF price cut by steep 12 per cent; commercial LPG reduced by Rs 36
NEW DELHI: Jet fuel (ATF) prices on Monday were cut by the steepest ever 12 per cent, the second reduction in as many weeks, on softening international oil prices amid recessionary fears.
Oil marketing companies slash price of Jet fuel, commercial LPG cylinder
NEW DELHI: As the crude oil prices cooled down in the international market, the oil marketing companies (OMCs) slashed the jet fuel (ATF) prices by 12% to Rs 121,915.57 per kl in the national capital. As per price notification by state-run retailers, ATF prices for domestic airlines now stand at Rs 121,915.57 in Delhi, Rs […]
Indian Oil Corporation reports first loss in two years; sold petrol at Rs 10 per litre loss, diesel at Rs 14
NEW DELHI: Indian Oil Corporation sold petrol at a loss of Rs 10 per litre and diesel at Rs 14 a litre during April-June, leading to the firm reporting its first quarterly net loss in over two years, a report said.
MRPL to expand petrol pump network in Tamil Nadu, AP, Telangana: Chairman Alka Mittal
NEW DELHI: Mangalore Refinery and Petrochemicals Ltd (MRPL) are looking to expand its network of petrol pumps in Tamil Nadu, Andhra Pradesh and Telangana, as it looks to tap markets in the vicinity of its refinery, its chairman has said.
Indian Oil Corporation sees 66.46 per cent decline in net profit in Q1 FY23
NEW DELHI: State-owned oil refiner Indian Oil Corporation (IOC) on Friday reported a 66.46% decline in its net profit at Rs 1,992.53 crore for the first quarter ended June 2022 due to freezing on petrol and diesel prices.
Russia cuts gas through Nord Stream 1 to 20 per cent of capacity, Germany dubs a political move
BERLIN: Russia’s Gazprom on Wednesday halved the amount of natural gas flowing through a major pipeline from Russia to Europe to 20% of capacity. It’s the latest reduction to Nord Stream 1 that Russia has blamed on technical problems, but Germany calls a political move to sow uncertainty and push up prices amid the war […]
EU struggles with how to cut off its reliance on Russian gas
BRUSSELS: European Union nations struggled Monday to find common ground on how to wean the bloc off its reliance on Russian natural gas, seeking to appease wary, stressed consumers at home while upholding unity as Moscow turns down the tap.
BPCL despatches Super Absorbent Polymer to Bengaluru
KOCHI: The Bharat Petroleum Corporation Limited (BPCL) despatched the first indigenous Super Absorbent Polymer (SAP) from the propylene derivatives petrochemical complex at the Kochi Refinery on Tuesday. The lorry carrying the first consignment to Bapuji Surgical in Bengaluru, was flagged off by Ajith Kumar K, executive director, Kochi Refinery. SAP, the key component of sanitary […]
Reliance Industries shares fall over 3 per cent as it faces near-term headwinds
NEW DELHI: After reporting a lower-than-expected Q1FY2023 results, shareholders have given a major thumbs down to shares of Mukesh Ambani’s Reliance Industries (RIL). The stock of the country’s most valuable firm plummeted over 3% on Monday to close at Rs 2,417 even as many brokerages maintain a ‘buy’ status on the stock. They, however, expect […]
Reliance expects gas price to rise in October, wants removal of ceiling prices
NEW DELHI: Reliance Industries Ltd expects prices of natural gas in India to rise again in October but wants government-dictated caps to go, in a bid to align domestic rates with global energy prices. The conglomerate, controlled by billionaire Mukesh Ambani, expects the price cap for its KG-D6 gas sales to rise over the current […]
Call on Rs 300 crore ethanol plant soon: Andhra Pradesh Industrial Infrastructure Corporation
VIJAYAWADA: AP Industrial Infrastructure Corporation (APIIC) Chairman Mettu Govinda Reddy has promised to take a decision on giving necessary approvals for Assago Industries to set up an ethanol plant at Rajahmundry. Assago has already announced to invest Rs 300 crore on the plant.